Will debt jeopardize appointment?

[Jetbill]

DS has recently received notice of appointment at USMA. (3rd year applying to S.A.'s!) Contingent on passing DODMERB. (He passed 2 yrs ago, but that expired this year).
So, he has a small amount of student loans he took last spring...2500ish. Payments are due to commence in April.
We plan on making these payments for him going forward, as budget is tight. (He's currently self preping at MMI).
However, we certainly don't want to jeapordize his appointment if having debt is a no go. And I vaguely remember reading somewhere about canidates not having debt, or something????
So, should we find a way to pay it off??? It would be possible, but actually a bit of a hardship. Or is he safe, so long as payments are kept up with??? ...Or am I worried about nothing?

 

[A1Janitor]

I would look into student loan deferral which is available to military.

As long as interest doesn’t kill you.

He could pay it off with his loan he can get after 3c. Would solve the hardship.

 

[Jetbill]

I would look into student loan deferral which is available to military.

As long as interest doesn’t kill you.

He could pay it off with his loan he can get after 3c. Would solve the hardship.

Thanks for the info....I will look into the deferment if necessary. But primary concern is not getting him DQ'd to begin with. Don't want his incredibly hard faught appointment jeapordized....If that's actually a legit concern???

 

[MarTac]

Debt, in and of itself, will not endanger his appointment. It is extensive debt or bad credit that can endanger a security clearance (required for all cadets.) Cadets can have their own credit cards, student debt, or car loans (although lower class men are not allowed cars at West Point.) Some cadets are prior service enlisted and have had debt and loans previously. If you can keep the loan current and up-to-date that would be great or seek deferment (as other poster mentions) but even a single missed payment or debt should not be a major concern - especially if he can explain circumstances. The big disqualifier would be if a debt goes to litigation and a candidate is involved in, or the subject of a lawsuit to collect a debt.

 

[Jetbill]

Awesome! That explanation makes perfect sense. Just an overly worried Dad here...as usual
I greatly appreciate your timely response!

 

[HulkamaniaLives4ever]

I suggest you call admissions and get a direct answer. Each SA clearly has different ways of doing things so this may not be the case for the USMA, but the USCGA requires zero debt: "Prospective cadets must be debt-free to be eligible to enroll. Debt burden from college loans may be disqualifying." Key word there being "may". But if you're planning on paying it for him anyway, you can probably assume the debt if necessary and make it a non-factor.

 

[Capt MJ]

I would look into student loan deferral which is available to military.

As long as interest doesn’t kill you.

He could pay it off with his loan he can get after 3c. Would solve the hardship.

Definitely look into small print. Active duty military service is often a deferral clause. Mids and cadets at SAs - except USMMA - are AD.

 

[Jetbill]

Definitely look into small print. Active duty military service is often a deferral clause. Mids and cadets at SAs - except USMMA - are AD.

Thanks Capt MJ! Our path's cross again, almost a year later. I am truly honored to receive your guidance on my Son's behalf, (Again!!!), and stand in awe of your selfless service to so many young Americans, (and others) who in turn, are wishing to serve our entire country!
Not sure how, or if, we would of gotten as far as we have, towards my son realizing his dreams of a SA appointment, without these Forum's and your countless expert contributions, in regards to so many peoples questions.
Now just waiting for DS's DODMERB results from 12/20 to almost certainly clear, as they did just over 2 yrs ago...
In my humble opinion, you haven't heard it enough, so again, THANK YOU!!!

 

[Capt MJ]

Thanks Capt MJ! Our path's cross again, almost a year later. I am truly honored to receive your guidance on my Son's behalf, (Again!!!), and stand in awe of your selfless service to so many young Americans, who in turn, are wishing to serve our entire country!
Not sure how, or if, we would of gotten as far as we have, towards my son realizing his dreams of a SA appointment, without these Forum's and your countless expert contributions, in regards to so many peoples questions.
Now just waiting for DS's DODMERB results from 12/20 to almost certainly clear, as they did just over 2 yrs ago...
In my humble opinion, you haven't heard it enough, so again, THANK YOU!!!

You are very welcome. Dropping by here makes me feel like I can still serve. People helped me when I was a junior officer; senior officers mentored me when I became more senior. Now I belong to the greater community of veterans, which has an enduring tradition of service.

 

[Herman_Snerd]

Sage guidance above - I'll offer this unsolicited perspective - feel welcome to skip the post or read if it may help - I understand money being tight - really, I do. Spent 3+ years of my life in my 20s with 140.00 or less in the bank- in Manhattan. Each decision I made, trying to avoid going into credit card or loan debt. Hey, times for many right now are rough - I will offer though that addressing debt is a great best practice vs letting debt "linger". Some of the brightest people I know have an insane amount (over 50k) of credit card debt- seek to help your DS avoid it. These kids via SA or ROTC coming out without debt or little debt and a guaranteed officer role - amazing life start. Keep it uncomplicated. It's just easier in life to not have debt- so many of this generation have more than 100k in student loans hung around their necks in a time of high inflation.

Your son while at USMA will receive a stipend that is 4x the amount you owe, some of which is gobbled by uniform maintenance, meals, doordashing etc. he I assume can work this summer. I recommend you confirm how much he / you'll accrue in interest - even from just 2500, and work with him to pay off that debt in the first six months of the loan.

A lot of us as adults have mortgages, car payments, and constant pressures of money. A lot of us who are "savers" had a brutal year last year with market volatility - everyone is feeling it. I'd instacart a couple of nights a week starting now, bag lunches to work *buckle down anywhere you already aren't, and help him avoid even on a smaller scale the weight burden this may become.

Plus, if that debt becomes a civil matter (liens/ courts, lawsuits) then it could potentially become a problem for your SA student. Regardless of whether the school will care, regardless of deferral options, I would tackle this - teach him to be aggressive with debt mgmt.

Hang in there and good luck to you. we all just do the best we can, no judgments - just a fellow parent who has been there trying to help by sharing ideas.